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Financial crisis likely to continue: Banker

Source: PTI
November 06, 2008 15:21 IST
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The global financial crisis and the risks emanating from it are likely to continue for some more time, a senior banker said.

"We may see some more things (continuation of the financial crisis) happening in Europe...we may see a regulatory change in the US (in the backdrop of the financial turmoil)," Citi's CEO for South Asia, Sanjay Nayar, said at the Ficci-IBA banking seminarĀ in Mumbai on Thursday.

The Indian banking system, was, however, in good shape though there exists some supply-side issues, Nayar said.

The SME and infrastructure sectors needed more fundsto be provided to them, he said.

In order to meet the challenges in the economy, the banking system needed long-term liquidity, Nayar said, while in the short-term there was a need for foreign currency requirement in the market.

According to the Citi official, banks needed to strengthen their risk-management systems.
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